If you’re a new entrepreneur, your daily to-do list is already a mile long. You’re hiring, managing your managers, getting your systems in place, bookkeeping and all the rest.

But how much time to you spend thinking about your customers?

If you’ve been too busy to think about them, you’re making a serious mistake. All business failures can be traced to a lack of knowledge about customers’ identities, wants and needs.

Here are five groups of customers you need to meet and get to know.

Current Customers

They could be past customers who are following you into your new enterprise, or the historical customers of a business you have acquired. Connect with them. They are the only people who can let you know how you and your company have done in the past - and how well you are doing now.

You also need to commit to being in touch with them on an ongoing basis, so they can monitor your future actions and let you know how well you are doing. You can also get ideas for new products and services by asking them about their future needs and how they will be satisfied.

New Customers  

They are uniquely able to give you important information about what is attracting people to your products and services and the ways in which you are perceived to be superior to your competitors. Don’t just cash their checks - talk to them.

Lost Customers

Don’t let them walk away quietly. They have valuable information for you, namely, where you fell short in satisfying them. It may be a benefit not delivered. It may be a negative interaction with someone in your organization. It may be a price thought to be too high. Whatever it is, you need to know about it before another customer leaves for the same reason.

Heavy Users

They are the experts on your product or service and those of your competitors. They can advise you of trends in the product category. They can guide you to problems that need to be solved. In addition, the heavy users probably comprise the majority of your sales.

Potential Customers

How do their needs differ from those of your current customers?  Potential customers represent your opportunity for growth.

Once you identify them and get to know them, you can redesign your product or service if necessary so you can communicate to them the information they need if you are to persuade them to buy from you. The members of your sales staff serve as communications links in this process, so train them to ask sales prospects about their problems and needs.

Remember, Success is a Partnership with Your Customers . . .

Never forget that customer problems represent golden opportunities for any business. If you can discover those problems and solve them today and tomorrow, your enterprise will grow, outdistance the competition - and succeed.